Seaport Research analyst Jay Goldberg initiated coverage of Lam Research (LRCX) with a Buy rating and $300 price target as part of a broader research note, launching coverage of the wafer fabrication equipment – WFE – industry. This market is enjoying one of the stronger cycles in its history, driven by two forces – massive secular demand for compute, especially around AI, and the growing complexity and intensity of the technical challenges required to build leading edge semiconductors, the analyst tells investors in a research note. The firm adds that Lam Research stands to benefit from the current cycle, with particular leverage to the memory segment.
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